Penserra Capital Management LLC Buys Shares of 60,663 Clear Secure, Inc. (NYSE:YOU)

Penserra Capital Management LLC purchased a new position in shares of Clear Secure, Inc. (NYSE:YOU) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 60,663 shares of the company’s stock, valued at approximately $2,010,000.

A number of other hedge funds also recently modified their holdings of YOU. Cerity Partners LLC bought a new stake in Clear Secure during the 3rd quarter worth approximately $690,000. Citigroup Inc. boosted its holdings in shares of Clear Secure by 257.9% in the third quarter. Citigroup Inc. now owns 107,858 shares of the company’s stock valued at $3,574,000 after buying an additional 77,718 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Clear Secure by 6.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 872,154 shares of the company’s stock worth $28,903,000 after acquiring an additional 55,136 shares in the last quarter. Foundry Partners LLC raised its holdings in shares of Clear Secure by 667.5% during the third quarter. Foundry Partners LLC now owns 213,815 shares of the company’s stock worth $7,086,000 after acquiring an additional 185,957 shares during the period. Finally, Intech Investment Management LLC acquired a new stake in shares of Clear Secure during the third quarter worth $688,000. Institutional investors and hedge funds own 73.80% of the company’s stock.

Clear Secure Stock Up 3.4 %

NYSE:YOU opened at $27.06 on Tuesday. The firm has a market capitalization of $3.77 billion, a price-to-earnings ratio of 31.47 and a beta of 1.63. Clear Secure, Inc. has a twelve month low of $16.05 and a twelve month high of $38.88. The stock’s 50 day moving average price is $32.37 and its two-hundred day moving average price is $25.57.

Clear Secure (NYSE:YOU) last issued its earnings results on Thursday, November 7th. The company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.03). The firm had revenue of $198.40 million during the quarter, compared to analyst estimates of $194.62 million. Clear Secure had a net margin of 10.93% and a return on equity of 48.28%. The company’s revenue for the quarter was up 23.7% on a year-over-year basis. During the same quarter last year, the business posted $0.20 earnings per share. As a group, analysts anticipate that Clear Secure, Inc. will post 0.98 earnings per share for the current year.

Clear Secure Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Tuesday, December 10th will be issued a dividend of $0.125 per share. The ex-dividend date of this dividend is Tuesday, December 10th. This is a positive change from Clear Secure’s previous quarterly dividend of $0.10. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.85%. Clear Secure’s payout ratio is presently 46.51%.

Insider Activity at Clear Secure

In related news, Director Alclear Investments Ii, Llc sold 227,021 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $31.05, for a total value of $7,049,002.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kenneth L. Cornick sold 79,935 shares of the company’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $30.04, for a total value of $2,401,247.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 981,435 shares of company stock worth $31,457,077. Company insiders own 37.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Needham & Company LLC reiterated a “buy” rating and set a $45.00 target price on shares of Clear Secure in a report on Friday, November 8th. Wedbush reiterated a “neutral” rating and set a $26.00 price objective (up from $24.00) on shares of Clear Secure in a report on Thursday, November 7th. The Goldman Sachs Group boosted their target price on Clear Secure from $27.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Telsey Advisory Group raised their price target on shares of Clear Secure from $34.00 to $42.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Finally, Stifel Nicolaus lifted their price objective on shares of Clear Secure from $24.00 to $32.00 and gave the company a “hold” rating in a report on Monday, October 28th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $32.67.

About Clear Secure

Clear Secure, Inc operates a secure identity platform under the CLEAR brand name primarily in the United States. Its secure identity platform is a multi-layered infrastructure consisting of front-end, including enrollment, verification, and linking, as well as back-end. The company also offers CLEAR Plus, a consumer aviation subscription service, which enables access to predictable entry lanes in airport security checkpoints, as well as access to broader network; and CLEAR mobile app, which is used to enroll new members and improve the experience for existing members.